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CO Help!

Community Leader
Legendary Contributor

Re: CO Help!

Monthly delinquencies relate to the status each month when they were billing on the account.  A CO is totally independent, and is related only to the reporting that they took a business accounting measure on the delinquent account.  Each of those reportings, provided they are accuratem remain in the payment history regardless of the uttimate payment or non-payment of the debt.  Payment of the debt does not negate the fact of prior reporting of delinquencies or a CO.

 

Current status is siimply a Kodak moment showing its status as of the last reporting.  It does no reflect prior payment history.

If the debt was satisfied, the current status is paid, and the current balance is $0.  One does not pay a CO, they pay the debt.

 

Provided the prior delinquencies and CO are accurate, they are not precluded from reporting them after satisfaction of the debt.

Their reporting may have been unnecessary, but I dont see a disputable inaccuracy.

Message 11 of 14
Contributor

Re: CO Help!

I have the same situation as you wih a paid CO from a utility bill. It has been paid but the creditor (Edison) refuses to remove it. I called them and asked and they said they can only provide a letter saying that its been paid. That paid collection is giving my score a 50 point drop to my EQ report and 52 point drop to my EX report. TU is not reporting the CO account so my score with them is 745. 

 

Has anyone had any success sending a PIF letter to the CBA and having them remove the CO?  


Starting Score: 609
Current Score: EX: 723 (08/18), TU: 741 (08/15), EQ: 695(08/15)
Goal Score: 785


Take the myFICO Fitness Challenge
Message 12 of 14
Epic Contributor

Re: CO Help!


RobertEG wrote:

Monthly delinquencies relate to the status each month when they were billing on the account.  A CO is totally independent, and is related only to the reporting that they took a business accounting measure on the delinquent account.  Each of those reportings, provided they are accuratem remain in the payment history regardless of the uttimate payment or non-payment of the debt.  Payment of the debt does not negate the fact of prior reporting of delinquencies or a CO.

 

Current status is siimply a Kodak moment showing its status as of the last reporting.  It does no reflect prior payment history.

If the debt was satisfied, the current status is paid, and the current balance is $0.  One does not pay a CO, they pay the debt.

 

Provided the prior delinquencies and CO are accurate, they are not precluded from reporting them after satisfaction of the debt.

Their reporting may have been unnecessary, but I dont see a disputable inaccuracy.


There were no monthly delinquencies reported.  It always reported as a CO until it was PIF, then they changed the CO to late payments.

Message 13 of 14
Highlighted
Epic Contributor

Re: CO Help!


MrxLeo wrote:

I have the same situation as you wih a paid CO from a utility bill. It has been paid but the creditor (Edison) refuses to remove it. I called them and asked and they said they can only provide a letter saying that its been paid. That paid collection is giving my score a 50 point drop to my EQ report and 52 point drop to my EX report. TU is not reporting the CO account so my score with them is 745. 

 

Has anyone had any success sending a PIF letter to the CBA and having them remove the CO?  


The creditor does not have to remove a TL just because it is paid.

Message 14 of 14